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Arafura Resources' (ASX:ARU) shares creep up on strong quarterly activities

Arafura Resources (ASX:ARU) share price closed up 11% today on the back of a strong quarterly activities report ending December 31, 2022, capitalising on the growing demand for rare earths sourced from tier-one locations.

Arafura Resources highlighted drilling assays supported increased confidence levels for continuous clay-hosted rare earth mineralisation at its Koppamurra project in South Australia. 

It says the Koppamurra JORC Resource is currently 81.4Mt at 785ppm TREO (total rare earth oxide) and an increased Resource update is expected during the March quarter this year.

Arafura Resources also highlighted its offtake and technical collaboration with North American-based global rare earths processor Neo Performance Materials Inc. for a mixed rare earth carbonate product.

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